If you curb his rights for publication this won't bother you too much in this case but one could think about the possiblity of cross-licencing (so that you can use the translation in turn for something else).
I guess HarryT knows more about the international aspect from the anglo-american angle but eg. under german law the translator gains his own copyright for the wording of the translation. So his unique translation automatically contains two rights, your right for the content/story and his for the translated wording.
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